{"id":504062,"date":"2022-10-27T00:00:00","date_gmt":"2022-10-26T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sushiswap-to-create-three-daos-in-panama-and-cayman-in-business-restructuring\/"},"modified":"2022-10-27T00:00:00","modified_gmt":"2022-10-26T21:00:00","slug":"sushiswap-to-create-three-daos-in-panama-and-cayman-in-business-restructuring","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sushiswap-to-create-three-daos-in-panama-and-cayman-in-business-restructuring\/","title":{"rendered":"# SushiSwap to create three DAOs in Panama and Cayman in business restructuring"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c1af85dbca\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c1af85dbca\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sushiswap-to-create-three-daos-in-panama-and-cayman-in-business-restructuring\/#%E2%80%9D_SushiSwap_to_create_three_DAOs_in_Panama_and_Cayman_in_business_restructuring_%E2%80%9C\" >&#8221; SushiSwap to create three DAOs in Panama and Cayman in business restructuring  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SushiSwap_to_create_three_DAOs_in_Panama_and_Cayman_in_business_restructuring_%E2%80%9C\"><\/span>&#8221; SushiSwap to create three DAOs in Panama and Cayman in business restructuring  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvMzViYTliMWEtNTE4OC00OGQ2LWE0YzctNDAzYTMxZWRhMzgwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>The Sushi DAO, the decentralized autonomous organization behind crypto exchange SushiSwap, has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/snapshot.org\/#\/sushigov.eth\/proposal\/bafkreibawm6u4tsq4e5lqwz5yo3rg2k4p6upg5eqaeen33ghmuwxttiaqm\">approved<\/a> a legal restructuring on Oct. 26 that creates three new decentralized entities, aiming to provide more flexibility to its operations.<\/p>\n<p>The proposal, which received 100% votes in favor, will create the DAO Foundation, Panamanian Foundation, and Panamanian Corporation, each serving different purposes.<\/p>\n<p>Among other things, the DAO Foundation will be able to administer treasury, grants and on-chain governance processes, and facilitate proposals and voting. The Panamanian Foundation will administer the existing Sushi protocol (including smart contracts related to the automated market maker\/orderbook, Kashi and staking). Finally, the Panamanian Corporation will operate the graphical user interface layer (or front end) of the protocol.<\/p>\n<p>As per the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.sushi.com\/t\/recommendation-for-sushi-legal-structure\/11158\/12\">discussion<\/a>\u00a0regarding the proposal, the process to set up the entity structure is expected to take four weeks. According to Sushi, the \u201cpurpose of the entity structure &amp; framework is to provide maximum flexibility for Sushi to proceed in whichever direction the DAO or governance takes it, while also mitigating risk.\u201d<\/p>\n<p>The move came as authorities in the United States and European Union continue to work on frameworks for regulating digital assets. Participants in the discussion forum agreed that a legal structure was necessary, but questioned the countries and the model selected. As stated in a long <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of comments by a user named Daimon: <\/p>\n<blockquote><p>&#8220;Don\u2019t pick countries which are constantly at risk of political collapse, financial collapse, military coups or North American bail-outs. Don\u2019t pick countries in which you wake up one day and find presidential or royal decrees being plastered on your front door, forcing you to beat a hasty exit through the departure lounge.&#8221;<\/p><\/blockquote>\n<p>On Oct. 13, John Hickenlooper, a United States senator representing Colorado, penned a letter to Gary Gensler urging the Securities and Exchange Commission (SEC) chair\u00a0to establish \u201cclear rules\u201d for the crypto market, including identifying the cryptocurrencies that will be considered securities, establishing registration guidelines for trading platforms, and \u201cdetermining what disclosures are necessary for investors to be properly informed.\u201d<\/p>\n<p>The SEC boosted its ability to handle specialized issuer filings by\u00a0adding an Office of Crypto Assets in September dedicated solely to cryptocurrency asset <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications and services.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sushiswap-to-create-three-daos-in-panama-and-cayman-in-business-restructuring\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SushiSwap to create three DAOs in Panama and Cayman in business restructuring &#8220; The Sushi DAO, the decentralized autonomous organization behind crypto exchange SushiSwap, has approved a legal restructuring on Oct. 26 that creates three new decentralized entities, aiming to provide more flexibility to its operations. The proposal, which received 100% votes in favor,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvMzViYTliMWEtNTE4OC00OGQ2LWE0YzctNDAzYTMxZWRhMzgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75186,75700,89215,117,70934],"class_list":["post-504062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-dao","tag-panama","tag-sushiswap","tag-business","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=504062"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504063"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}